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Ch 01 - Law, Value Creation, and Risk Management
11. As used in the text, the term "legal astuteness" refers to the ability of a manager to avoid situations that make consultation with legal counsel necessary.
a. True b. False a. True b. False a. True b. False a. True b. False a. True b. False a. True b. False a. True b. False a. True b. False a. True b. False a. True b. False
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12. Entering into nondisclosure agreements is an unethical practice that should not be tolerated by a legally astute manager.
13. A legally astute manager would take a proactive approach to legal issues and relevant regulations.
14. The potential for legal analysis to be ambiguous means that even the most skilled and experienced advisers and lawyers sometimes get it wrong.
15. Each activity in the value chain has legal aspects.
16. The center of operations for the European Union is located in Brussels, Belgium.
17. According to the text, adequate protection of minority shareholder rights increases investment in new ventures.
18. Under the resource-based view of a business firm, a firm's resources can be a source of sustained competitive advantage if they are valuable, rare, and perfectly imitable by competitors.
19. Self-regulation within the advertising industry has been largely successful in making any bans on deceptive advertising unnecessary.
20. The Systems Approach recognizes that law is dynamic, as opposed to static.
21. J.P. Morgan Chase's "Sons and Daughters" hiring program, involving hiring children of China's ruling elite, was
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